Warner Bros Discovery has resumed talks with Paramount Skydance after Netflix temporarily allowed it. The company has until February 23 to reach an agreement.
Warner Bros Discovery has resumed talks on a possible merger with Paramount Skydance after Netflix temporarily allowed it. This was reported by AP News, according to UNN.
As explained, Netflix has given Warner Bros a seven-day permit, allowing the company to return to negotiations with Paramount and discuss contentious points of previous proposals. According to the official announcement, Warner Bros has until February 23 to reach agreements with Paramount Skydance.
Earlier, Warner Bros management supported a deal with Netflix. In December, Netflix agreed to acquire Warner Bros' studio and streaming business for $72 billion. Including debt, the total value of this deal is approximately $83 billion. Shareholders were expected to consider it in the spring.
At the same time, Paramount Skydance offers a different option. The company wants to acquire all of Warner Bros Discovery, including CNN and Discovery channels. In December, Paramount offered shareholders an all-cash deal worth $77.9 billion.
Currently, Warner Bros is simultaneously considering both proposals, and the final decision will depend on the results of negotiations in the coming days.
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